Budgeting & Debt
Learn how to manage your budget and reduce debt with practical guides on spending, saving, credit, and repayment strategies. Take control of your money and your life with confidence.
What is a cash advance? Here’s how this short-term loan works in Canada
Cash advances help you bridge the gap between paycheques. Here’s how they work, what they cost, and what to know before you use one.
How your personal bankruptcy impacts your spouse in Canada
Filing for personal bankruptcy in Canada does not make your spouse responsible for your debts. The key exceptions involve joint debts, co-signed obligations, and jointly owned assets.
Five bankruptcy alternatives for Canadians struggling with debt
Canadians who owe more than they can repay have at least five viable bankruptcy alternatives that can reduce payments, lower interest, or settle debts for less than the full amount.
Consumer proposal vs. Debt consolidation: Which protects your credit?
Consolidation tends to work best when you can afford to repay your full debt, but want to lower your interest costs and simplify your payments.
10 unexpected effects of doing a consumer proposal in Canada
Unlike bankruptcy, a consumer proposal does not transfer control of your assets to a trustee. You keep your home, your vehicle, and all your investment accounts.
The truth about government debt relief programs in Canada
Two formal debt relief mechanisms fall under the Bankruptcy and Insolvency Act: the consumer proposal and the bankruptcy.
When do debt collectors take you to court in Canada?
If a collector contacts you about a debt that is past the limitation period, avoid engaging with them, since they lost the legal right to enforce repayment through the courts.